8928—59

Dynamic Precision Industry Corp

Recreational ProductsVerified

Score breakdown

Profitability+21Sentiment+30Risk penalty-3Missing signals-3

Quality breakdown

Key fields100Profile38Conclusion96AI synthesis40Observations23

Capital Structure and Liquidity Dynamic Precision Industry Corp has a debt-to-equity ratio of 1.54, indicating a relatively high leverage position [doc:valuation snapshot]. The company's liquidity is assessed as medium, with a current ratio of 1.02, suggesting limited short-term liquidity cushion [doc:valuation snapshot]. Free cash flow is negative at -96,363,000 TWD, and capital expenditure is -192,938,000 TWD, indicating ongoing investment in operations [doc:financial snapshot]. ### Profitability and Returns The company's return on equity is 6.6%, and return on assets is 1.98%, both below the typical thresholds for strong performance in the Recreational Products industry [doc:valuation snapshot]. Operating income is 85,073,000 TWD, with a gross profit of 406,455,000 TWD, reflecting a gross margin of 11.9% [doc:financial snapshot]. ### Segments and Geographic Exposure The company operates through three segments: Taiwan, Japan, and Other Regions. The Taiwan segment is focused on manufacturing and distribution of golf club heads, while the Japan and Other Regions segments handle import and export of golf equipment. Revenue concentration is not explicitly disclosed, but the company distributes products in domestic and overseas markets, including the Americas, Asia, and Europe [doc:HA-latest]. ### Growth Trajectory Analysts have a neutral outlook on the company, with one "Hold" recommendation and no "Buy" or "Sell" recommendations. The last actual EPS was 1.41 TWD, compared to a mean EPS estimate of 2.89 TWD, indicating potential for earnings growth [doc:IR observations]. ### Risk Factors The company faces medium liquidity risk, with a current ratio of 1.02 and negative free cash flow. The risk of dilution is assessed as low, with no near-term pressure expected [doc:risk assessment]. The company's net cash is negative after subtracting total debt, which could impact its financial flexibility [doc:risk assessment]. ### Recent Events Recent financial data and analyst estimates indicate a neutral market sentiment. The company's operating cash flow is 183,881,000 TWD, but this is offset by capital expenditures and debt obligations [doc:financial snapshot].

Profile

CompanyDynamic Precision Industry Corp

Ticker8928.TWO

SectorConsumer Cyclicals

BusinessCyclical Consumer Products

Industry groupCyclical Consumer Products

IndustryRecreational Products

AI analysis

Business. Dynamic Precision Industry Corp is a Taiwan-based company engaged in the manufacturing and distribution of golf club heads, operating through three business segments: Taiwan, Japan, and Other Regions [doc:HA-latest].

Classification. The company is classified under the Consumer Cyclicals economic sector, Cyclical Consumer Products business sector, and Recreational Products industry with a confidence level of 0.92 [doc:verified market data].

### Capital Structure and Liquidity Dynamic Precision Industry Corp has a debt-to-equity ratio of 1.54, indicating a relatively high leverage position [doc:valuation snapshot]. The company's liquidity is assessed as medium, with a current ratio of 1.02, suggesting limited short-term liquidity cushion [doc:valuation snapshot]. Free cash flow is negative at -96,363,000 TWD, and capital expenditure is -192,938,000 TWD, indicating ongoing investment in operations [doc:financial snapshot]. ### Profitability and Returns The company's return on equity is 6.6%, and return on assets is 1.98%, both below the typical thresholds for strong performance in the Recreational Products industry [doc:valuation snapshot]. Operating income is 85,073,000 TWD, with a gross profit of 406,455,000 TWD, reflecting a gross margin of 11.9% [doc:financial snapshot]. ### Segments and Geographic Exposure The company operates through three segments: Taiwan, Japan, and Other Regions. The Taiwan segment is focused on manufacturing and distribution of golf club heads, while the Japan and Other Regions segments handle import and export of golf equipment. Revenue concentration is not explicitly disclosed, but the company distributes products in domestic and overseas markets, including the Americas, Asia, and Europe [doc:HA-latest]. ### Growth Trajectory Analysts have a neutral outlook on the company, with one "Hold" recommendation and no "Buy" or "Sell" recommendations. The last actual EPS was 1.41 TWD, compared to a mean EPS estimate of 2.89 TWD, indicating potential for earnings growth [doc:IR observations]. ### Risk Factors The company faces medium liquidity risk, with a current ratio of 1.02 and negative free cash flow. The risk of dilution is assessed as low, with no near-term pressure expected [doc:risk assessment]. The company's net cash is negative after subtracting total debt, which could impact its financial flexibility [doc:risk assessment]. ### Recent Events Recent financial data and analyst estimates indicate a neutral market sentiment. The company's operating cash flow is 183,881,000 TWD, but this is offset by capital expenditures and debt obligations [doc:financial snapshot].

Key takeaways

The company has a high debt-to-equity ratio of 1.54, indicating significant leverage.
Return on equity is 6.6%, and return on assets is 1.98%, both below industry benchmarks.
Free cash flow is negative at -96,363,000 TWD, and capital expenditure is -192,938,000 TWD.
Analysts have a neutral outlook, with one "Hold" recommendation and no "Buy" or "Sell" recommendations.
The company operates through three segments: Taiwan, Japan, and Other Regions.
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## RATIONALES
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Financial snapshot

PeriodHA-latest

CurrencyTWD

Revenue$3.42B

Gross profit$406.5M

Operating income$85.1M

Net income$72.0M

R&D—

SG&A—

D&A—

SBC—

Operating cash flow$183.9M

CapEx-$192.9M

Free cash flow-$96.4M

Total assets$3.63B

Total liabilities$2.54B

Total equity$1.09B

Cash & equivalents$196.4M

Long-term debt$1.68B

Annual history (last 5)

PeriodRevenueOp IncomeNet IncomeFCF

FY0$3.42B$85.1M$72.0M-$96.4M

FY-1$3.17B$105.5M$139.9M$113.1M

FY-2$2.60B-$48.7M-$36.3M-$279.1M

FY-3$3.39B$259.5M$286.1M-$229.4M

FY-4$3.09B$313.3M$239.0M-$20.6M

PeriodGross %Op %Net %FCF %

FY0————

FY-1————

FY-2————

FY-3————

FY-4————

PeriodAssetsEquityCashDebt

FY0$3.63B$1.09B$196.4M—

FY-1$3.49B$1.11B$106.3M—

FY-2$3.23B$982.1M$92.0M—

FY-3$3.65B$1.15B$67.2M—

FY-4$3.01B$996.2M$118.9M—

PeriodOCFCapExFCFSBC

FY0$183.9M-$192.9M-$96.4M—

FY-1$161.3M-$88.1M$113.1M—

FY-2$407.1M-$201.3M-$279.1M—

FY-3$293.4M-$468.7M-$229.4M—

FY-4-$107.2M-$249.7M-$20.6M—

Quarterly history (last 4)

PeriodRevenueOp IncomeNet IncomeFCF

FQ0$1.03B$36.1M$64.6M$31.1M

FQ-1$631.0M-$12.1M$13.8M$5.5M

FQ-2$718.5M-$7.8M-$82.9M-$102.0M

FQ-3$1.04B$68.8M$76.5M$55.5M

FQ-4$1.04B$36.5M$50.6M$50.7M

FQ-5$526.9M-$8.5M-$12.9M-$12.6M

FQ-6$711.4M$26.6M$28.5M$32.7M

FQ-7$890.0M$51.0M$73.8M$77.9M

PeriodGross %Op %Net %FCF %

FQ0————

FQ-1————

FQ-2————

FQ-3————

FQ-4————

FQ-5————

FQ-6————

FQ-7————

PeriodAssetsEquityCashDebt

FQ0$3.63B$1.09B$196.4M—

FQ-1$3.07B$1.01B$154.2M—

FQ-2$2.91B$983.4M$170.1M—

FQ-3$3.44B$1.11B$161.5M—

FQ-4$3.49B$1.11B$106.3M—

FQ-5$3.00B$1.05B$142.7M—

FQ-6$2.96B$1.05B$173.2M—

FQ-7$3.24B$1.02B$207.2M—

PeriodOCFCapExFCFSBC

FQ0$183.9M-$192.9M$31.1M—

FQ-1$457.8M-$128.0M$5.5M—

FQ-2$411.6M-$91.7M-$102.0M—

FQ-3$97.1M-$46.2M$55.5M—

FQ-4$161.3M-$88.1M$50.7M—

FQ-5$458.5M-$63.5M-$12.6M—

FQ-6$395.1M-$39.3M$32.7M—

FQ-7$117.3M-$19.7M$77.9M—

Valuation

Market price—

Market cap—

Enterprise value—

P/E—

Reported non-GAAP P/E—

EV/Revenue—

EV/Op income—

EV/OCF—

P/B—

P/Tangible book—

Tangible book$1.09B

Net cash-$1.48B

Current ratio1.0

Debt/Equity1.5

ROA2.0%

ROE6.6%

Cash conversion2.5%

CapEx/Revenue-5.6%

SBC/Revenue—

Asset intensity—

Dilution ratio0.0%

Risk assessment

Dilution riskLow

Liquidity riskMedium

Net cash is negative after subtracting total debt.

Industry benchmarks

Activity: Recreational Products · cohort 1 companies

Metric8928Activity

Op margin2.5%-0.8% medp25 -0.8% · p75 -0.8%top quartile

Net margin2.1%-2.6% medp25 -2.6% · p75 -2.6%top quartile

Gross margin11.9%24.3% medp25 17.6% · p75 36.7%bottom quartile

R&D / revenue—3.1% medp25 3.1% · p75 3.1%

CapEx / revenue-5.6%3.1% medp25 3.1% · p75 3.1%bottom quartile

Debt / equity154.0%111.1% medp25 111.1% · p75 111.1%top quartile

Observations

IR observations

Mean recommendation3.00 (1=strong buy, 5=strong sell)

Strong-buy count0.00

Buy count0.00

Hold count1.00

Sell count0.00

Strong-sell count0.00

Mean EPS estimate2.89 TWD

Last actual EPS1.41 TWD

Mean revenue estimate3,622,000,000 TWD

Last actual revenue3,419,870,000 TWD

Mean EBIT estimate161,000,000 TWD

Source data

Underlying data the analysis-pipeline pulls and audits. Fetch timestamps + content hashes show when each source was last refreshed.

Company fundamentalsperiod FQ-7 · history via verified-market-data

no public URL

2026-05-03 10:04 UTC#19ba9ed6

Source: analysis-pipeline (hybrid)Generated: 2026-05-03 10:06 UTCJob: 860b1797